Living fuels joined by major renewables company
01 February, 2008, 0 comments
Living Fuels is part of REG Bio-Power UK Ltd, a subsidiary of the London Stock Exchange AIM-listed Renewable Energy Generation Ltd (“REG”).
The REG Group was established in May 2005 to provide investors with an opportunity to participate in the growth of the global renewable energy market, predominantly in wind energy projects.
REG has two operating subsidiaries in wind energy – the UK-based Cornwall Light & Power Co Ltd (“CLP”), and AIM PowerGen Corp (“APG”) which is based in Toronto, Canada.
CLP currently operates four wind projects in Cornwall, Denbighshire, Cumbria and County Durham with a total capacity of 16MW. Another 30 projects are in various stages of development, with a total capacity of approximately 200MW.
APG is one of Canada’s largest independent wind developers with rights over 2,200MW of potential wind projects in Canada.
REG Managing Director Andrew Whalley said: “We are absolutely delighted that used vegetable cooking oil is now entering our renewables portfolio.
“Used oils will be purified utilising an established process and will then be used to generate power that qualifies for Renewable Obligation Certificates.
“With an already-established “pipeline” of used oils from catering organisations in the public and private sector, the economics of this operation are most attractive and this project should contribute to Group earnings next year.
“The potential of used vegetable cooking oil power is significant, and this and other forms of biomass will complement our established wind business in the UK."
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